21/7/2018-10

Tai Chi Quarry Project Exposure

The Taiping Union and Quarry Bay Hoi Yu Street land replacement development plan will expose five irregular buildings, including a 1-storey retail platform and superstructure development, and retain a 10-meter wide waterfront promenade for office, retail and hotel development, District Council Discuss the plan today.

In 2001, a 25-storey high-rise industrial building was built in Quarry Bay, Haiyu Street. After several consultations, the developer recently reached an agreement with the government on the original land exchange. The latest development plan will be based on the theme of “My New Central". Five buildings including a 1-storey retail platform and a building on the platform will be developed in an L-shape. The facade of the building is irregularly designed and connected in the middle. The number of floors is about 6 to 9 floors, and each building can see the Victoria Harbour.

In addition to the retail floor, the retail platform is landscaped, with facilities such as pools and sprinklers. As a landscape platform and viewing platform open to the public, it is planned to build an elevated pedestrian corridor. The top of the office building will be used as a deck, and the ground will also have access to the 10-metre wide promenade.

Collier: Commercial development valuation of 8.8 billion

Zhang Qiaochu, deputy managing director of Colliers International Asia Valuation and Consulting Services, said that if the old site is used for industrial development, the estimated floor price is about 11,000 to 12,000 yuan, but the new site after the land exchange enjoys a wider sea view. For commercial development, the floor price can be valued at 22,000 yuan and the total market value is about 8.8 billion yuan, which is more than double the industrial development.

The land is close to the waterfront. Based on the “Sustainable Building Design Guidelines", it is necessary to develop the design in multiple buildings. There must be at least 60 meters between the buildings, and many types of green public spaces are expected to enhance the attractiveness of the project.

Knight Frank: The price of the project is 25,000 to 30,000

Lin Haowen, Senior Director and Director of Valuation and Consulting at Knight Frank, believes that the new scheme will make good use of the waterfront promenade for the benefit of the public. The new site will enjoy a full sea view, but the buildings will be shorter, and the landscape of the rear Taikoo Square will be reduced. Considering that the location is far from the station, the development of office buildings and hotels is better. It is estimated that the price of the floor after the completion of the building will be 25,000 to 30,000 yuan, and the rent will be 50 to 60 yuan.